The American Spectator

p> HUNTING FOR DOLLARS br> Former Clinton Chief of staff Erskine Bowles , who lost to Elizabeth Dole in last year’s Senate race in North Carolina, apparently wants a second go at a Senate run. In meetings with Democratic Senatorial Campaign Committee chairman Sen. Jon Corzine , Bowles has indicated his willingness to again pony up the dough to defend Democratic honors in 2004 should Sen. John Edwards continue to pursue his presidential aspirations and not seek a second Senate term. /p>

Bowles is one of the few potential candidates Corzine has spoken to willing to put up his own cash to run. The self-financing M.O. is seen as critical for Democrats who are quickly lagging behind Republicans in the fundraising arena. Things have gotten so bad in the race for cash that in both the House and the Senate Democratic campaign committees have upped the base contributions each member of the caucus must ante up to fulfill his donation requirements.

“On paper, it looks like we’re raising more, but really we’re robbing Peter to pay Paul,” says a Democratic Senatorial Campaign Committee staffer. “We’re banking on self-financing candidates, that’s no secret. We’re also counting on the various leadership PACs to bail us out of some tight spots around the country.”

Leadership PACs, such as those set up by Sen. Tom Daschle and Sen. Hillary Rodham Clinton, are going to play increasingly larger roles in both House and Senate fundraising plans for Democrats. These PACs are bound by many of the same contribution restrictions that other donors must adhere to, but are not limited by how much they can share with other party organizations.